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November 3, 2006

Eurofirst closes week at 1,447.9

Permalink: Eurofirst closes week at 1,447.9
by Elaine Frei


Eurofirst closes week at 1,447.9

In Europe on Friday, the FTSE Eurofirst 300 added 0.3 percent, but over the week the index was slightly lower to 1,447.9. The weekly decline came on a mixed banking sector.

Commerzbank added 4.3 percent on Friday to €29.01 and added 3.8 percent on the week after issuing a third quarter report showed net profits that were higher than had been expected. Credit Suisse was higher on the week as well, adding 1.4 percent to SFr77.50 on third quarter figures that were generally good despite a decline in revenue from equities trading.

On the other hand, Deutsche Bank dropped 1.5 percent during the week to €97.09. Even though it also said equities trading had been down, earnings met expectations overall. UBS reported net profits down more than had been anticipated, again on declines in equities trading. The Swiss bank was 5.3 percent lower on the week to SFr74.70.

Spanish construction group Ferrovial added 9.1 percent to €74.05 after it reported underlying profit up 86 percent in the first nine months of the year, at least partly on its purchase of British airports operator BAA earlier in the year. Still in Spain, property group Metrovacesa was 8 percent higher this week to €121 on a tripling of its profit in the first nine months of the year.



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